Agency
Under West Virginia law, a designated agency arrangement means:
AThe broker personally handles both buyer and seller
BThe broker designates one licensee to represent the buyer and a different licensee to represent the seller✓ Correct
CTwo separate brokerage firms collaborate
DThe state designates which agency to use
Explanation
In designated agency, the broker designates one agent from the firm to represent the buyer and a different agent to represent the seller, allowing each client to receive full representation even within the same brokerage.
Related West Virginia Agency Questions
- When a West Virginia licensee represents a buyer under a written buyer's agency agreement, the buyer is considered the licensee's:
- A West Virginia licensee acting as a transaction broker (non-agent) owes the parties:
- A West Virginia agent receives an offer on a listed property that is below the listing price. The agent should:
- A West Virginia real estate agent who has a personal financial stake in a property they are listing or selling for a client must:
- A West Virginia buyer's agent is showing homes when the buyer mentions they are getting divorced and need to buy immediately. This information is:
- A West Virginia buyer's agent negotiates a favorable price for their buyer client. The agent's success in negotiation fulfills which fiduciary duty?
- Under West Virginia law, when must a licensee first present the agency disclosure form to a prospective buyer?
- A West Virginia buyer's agent and listing agent are from the same brokerage. With proper disclosure and written consent from both parties, this transaction may proceed as:
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